Saratoga Investment Corp (NYSE:SAR - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.38 and traded as high as $24.60. Saratoga Investment shares last traded at $24.59, with a volume of 70,225 shares changing hands.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. B. Riley started coverage on shares of Saratoga Investment in a research report on Tuesday, May 13th. They issued a "neutral" rating and a $23.50 price objective for the company. Compass Point downgraded shares of Saratoga Investment from a "buy" rating to a "neutral" rating and decreased their price target for the company from $25.25 to $24.25 in a research note on Monday, June 9th. Finally, Wall Street Zen cut Saratoga Investment from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Saratoga Investment has a consensus rating of "Hold" and a consensus price target of $24.25.
Read Our Latest Stock Analysis on Saratoga Investment
Saratoga Investment Trading Up 0.3%
The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.13. The stock's 50 day moving average is $24.33 and its two-hundred day moving average is $24.39. The company has a market capitalization of $379.01 million, a PE ratio of 12.10 and a beta of 0.68.
Saratoga Investment (NYSE:SAR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.21). The business had revenue of $31.30 million during the quarter, compared to analysts' expectations of $32.86 million. Saratoga Investment had a return on equity of 14.04% and a net margin of 18.87%. As a group, sell-side analysts predict that Saratoga Investment Corp will post 3.93 EPS for the current fiscal year.
Saratoga Investment Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.00 annualized dividend and a yield of 12.16%. Saratoga Investment's dividend payout ratio (DPR) is presently 147.06%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in Saratoga Investment by 4.5% during the first quarter. Royal Bank of Canada now owns 23,476 shares of the financial services provider's stock valued at $595,000 after purchasing an additional 1,018 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of Saratoga Investment during the fourth quarter valued at about $30,000. LPL Financial LLC boosted its holdings in shares of Saratoga Investment by 1.6% in the 1st quarter. LPL Financial LLC now owns 88,665 shares of the financial services provider's stock valued at $2,246,000 after buying an additional 1,361 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its position in shares of Saratoga Investment by 300.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 2,000 shares of the financial services provider's stock worth $51,000 after buying an additional 1,500 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Saratoga Investment by 35.8% in the 4th quarter. JPMorgan Chase & Co. now owns 6,789 shares of the financial services provider's stock worth $162,000 after buying an additional 1,789 shares during the last quarter. 19.09% of the stock is currently owned by hedge funds and other institutional investors.
About Saratoga Investment
(
Get Free Report)
Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.
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